Think Tank Challenges Constitutionality Of Bureau

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COLUMBUS, Ohio—The Buckeye Institute is the latest to call on the U.S. Supreme Court to rule that the Bureau of Consumer Financial Protection is unconstitutional.

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Although Alt said that the BCFP could potentially restructure itself to fit Constitutional guidelines, there “would have to be a radical restructuring,” such as allowing the director to be removed by the president and requiring more overview. He said this would require a substantial rewrite of the BCFP’s structure, which he said was intentionally designed to avoid accountability.

The case for which the Buckeye Institute filed the amicus brief, State National Bank of Big Spring v. Mnuchin, was filed in 2012 by the Competitive Enterprise Institute, the 60 Plus Association, and the State National Bank of Big Spring, Texas.